Aquascutum to Build Accessories Biz

London–Resurrected luxury fashion brand Aquascutum is to develop its own accessories business as part of plans to drive future growth.

Jaeger chief executive Belinda Earl, who joined forces with Harold Tillman to buy the ailing 159-year-old label last year, told Reuters’ Global Luxury Summit this week that the business’s Harrods shop-in-shop concept would also be revamped this year.

Since buying Aquascutum from Japan’s Renown group last September, Earl said the new management team had been engaged in improving the company’s IT and business systems.

Accessories Key to Revival

But accessories look set to be a key growth driver for the business, with current licences due to expire at the end of the year, after which the UK company will bring it in-house.

Earl said she would like accessories to account for 10% of sales within two years, up from 1% currently, adding that wholesale orders for the autumn and winter were looking positive.

Meanwhile, Earl also told Reuters that Jaeger’s recently expanded online sales platform was booming, and was poised to double in size over the next three years.

Tillman, who majority-owns both Aquascutum and Jaeger, said in September he eventually planned to expand Aquascutum in markets like Russia and the United States.

The company’s website now sells to 29 countries worldwide, and is linked to social networking portals.

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